A Florida pharmaceutical distributor is positioning XRP as a central component of its treasury and payment systems, incorporating the token into a $50 million financing arrangement.
Wellgistics Health (WGRX) announced on Thursday that it had secured an equity line of credit to fund the development of XRP-based reserves and infrastructure for real-time payments.
The company plans to integrate XRP into its pharmacy network to streamline transaction settlements, manage vendor payouts, and issue XRP-backed credit lines. This integration positions Wellgistics as one of the few publicly traded U.S. firms to actively incorporate XRP into its financial operations.
XRP’s ability to facilitate quick settlements will help Wellgistics eliminate banking delays and drastically reduce the cost of transactions, addressing persistent issues in pharmaceutical supply chains.
“We believe integrating XRP and its related infrastructure into our healthcare ecosystem offers significant advantages,” the company stated in the release.
With XRP, transactions can settle in 3-5 seconds, a stark contrast to the 1-3 days required for traditional ACH or wire transfers. This enables near-instantaneous settlements between pharmacies, suppliers, and manufacturers. Moreover, XRP transactions are recorded on the XRP Ledger, ensuring real-time compliance, rebate tracking, and auditability. The token will also support global vendor payouts at highly favorable foreign exchange rates.
The credit line for the project is provided by New York-based LDA Capital. However, the company did not specify a timeline for when XRP-based services would be launched.
